Calif. annuity legislation must pass by 2025 to avoid ‘dual regulation’
Calif. annuity legislation must pass by 2025 to avoid ‘dual regulation’

California Senate Bill 263, which would make California the 41st state to adopt best-interest annuity sales rules, has stalled amid pushback from consumer groups. It is currently in the suspense file with the Assembly Appropriations Committee, and five consumer associations want it to stay that…
California Insurance Crisis: ‘Insurer of Last Resort’ Gets ‘Astronomical’ 1,000 Applications a Day
California Insurance Crisis: ‘Insurer of Last Resort’ Gets ‘Astronomical’ 1,000 Applications a Day

As a string of major insurers have pulled out of California or restricted business in the state, more and more homeowners have been forced to seek coverage from the California FAIR Plan, a fire insurer for high-risk properties. Last month, Insurance Commissioner Ricardo Lara said…
Insurance Crisis: Bay Area Insurance Company That Left California Leaves Arizona, Nevada
Insurance Crisis: Bay Area Insurance Company That Left California Leaves Arizona, Nevada

When CSE Insurance announced to its agents earlier this month that it was pulling out of California and would not be renewing its customers’ policies, the company was the latest in a long list of insurers exiting the state. Now, The Standard can report that…
Survivors Speak: Ten Days in Lahaina
Survivors Speak: Ten Days in Lahaina

Driving along the idyllic West Maui coast on a characteristically stunning day in early September, all looked as beautiful as ever. As I crested the hill on the south of end of Lahaina, John Lennon’s ‘Imagine’ was playing on the radio. And I began to…
Tightening the Reins: California Insurance Companies and Car Accident Compensation Claims
Tightening the Reins: California Insurance Companies and Car Accident Compensation Claims

California, with its sprawling cities and vast highway networks, sees a significant volume of traffic, making car accidents a common occurrence. The aftermath of such incidents often spirals into a complex web of insurance claims and legal battles as victims seek compensation for their damages.…
Is the lack of flood insurance coverage the next coverage crisis for California?
Is the lack of flood insurance coverage the next coverage crisis for California?

Thousands of homes may be at risk of flooding, but few are covered against this type of catastrophe. Though we tend to think of wildfires as the main risk to property owners in California, climate change and a majority of homes without flood insurance could…
Could flooding fuel CA’s next insurance crisis? What data shows for thousands of Bay Area homes
Could flooding fuel CA’s next insurance crisis? What data shows for thousands of Bay Area homes

Climate change is predicted to drive increasing sea level rise across the country in the coming decades — and thousands of families in the Bay Area are unprepared for the flooding impacts. The ABC7 data journalism team analyzed data from the First Street Foundation, a…
Homeowners Flock to Last-Resort Insurance Policies
Homeowners Flock to Last-Resort Insurance Policies

Robert Dubie was paying around $1,100 a year to insure his Paradise, Calif., home before it burned down in a wildfire five years ago. He rebuilt it with a host of fire protections, but it costs 10 times as much to insure. He couldn’t get…
Flooding and water resources for Southern California
Flooding and water resources for Southern California

Want to know what the flood risk is in your area or how to protect your home during a storm? Check out the resources below. Want to know what the flood risk is in your area? What about how to protect your home and family…
California Annuity Sales Rule Bill Stalls
California Annuity Sales Rule Bill Stalls

The California State Legislature is not moving forward with SB 263, a bill to update annuity sales standards that is supported by the insurance industry but has drawn fierce opposition from consumer groups. The bill sailed through the state Senate in May, with no opposing…
Local Organizations and Individuals Express Support for California Wildfire Insurance Companies’ Coverage Expansion
Local Organizations and Individuals Express Support for California Wildfire Insurance Companies’ Coverage Expansion

California wildfire insurance companies are expected to change their policies based on the sustainable strategy before the year ends in an attempt to provide more affordable insurance and safety from wildfire for residents, Politico reported. Local organizations and individuals also expressed their support and optimism,…
Insurance Commissioner and Insurance Companies Come to an Agreement
Insurance Commissioner and Insurance Companies Come to an Agreement

New Package To Bring Insurance Companies and New Policies Back After several major insurance carriers stepped back from writing new policies in the state of California, Insurance Commissioner Ricardo Lara has unveiled a comprehensive package of executive actions as part of California’s Sustainable Insurance Strategy,…
Mitigation Matters
Mitigation Matters

No matter where you live, if you’re a homeowner today, you need to do your best to maintain your property and take steps to avoid it being damaged or destroyed in a severe weather event. Why? 1) No place on earth is immune from risk…
What New York homeowners and renters should know about flood insurance.
What New York homeowners and renters should know about flood insurance.

Standard homeowners’ and renters’ policies don’t cover damages that can be caused by the kind of heavy rains that hit New York City on Friday. It’s an unfortunate fact: Standard homeowners’ and renters’ insurance policies don’t cover damages caused by flooding. People who live in…
Maui’s Fire Victims Are Frustrated By Insurance Hassles, Financial Delays
Maui’s Fire Victims Are Frustrated By Insurance Hassles, Financial Delays

Numerous people showed up at a state Senate hearing on Maui where lawmakers urged state agencies to do more to protect consumers. As Lahaina fire victims recited a long litany of insurance problems they are facing after the Aug. 8 conflagration, Hawaii state senators pressed…
County hosts webinar on homeowners insurance
County hosts webinar on homeowners insurance

The current crisis of property insurance affordability and availability that’s impacting homeowners, as well as options for keeping homes protected, are the subjects of a county-wide public webinar. Read more.
New Jersey Supreme Court to rule on pandemic-related insurance exclusions
New Jersey Supreme Court to rule on pandemic-related insurance exclusions

New Jersey’s Supreme Court is considering whether an Atlantic City casino can get payouts from business interruption insurance for losses during the COVID-19 outbreak, potentially providing guidance for policyholders nationwide regarding the scope of coverage for pandemic-related losses. The state’s high court heard arguments Wednesday…
Will this plan solve California’s insurance crisis? This is what you need to know
Will this plan solve California’s insurance crisis? This is what you need to know

A week after negotiations to save California’s faltering home insurance market stalled in the Legislature, the state’s top insurance regulator unveiled its own plan to save the effective value of a swap for the first. which is the state insurer. Under the proposed regulations announced…